Inter are willing to listen to offers for Schelotto as he does not figure in new coach Walter Mazzarri's plans at the San Siro.
The highly-rated 24-year-old only joined Inter last January in a €6million from Atalanta and scored his first goal for the club in last season's Milan derby.
Inter are thought to be willing to loan out Schelotto with the option to buy at the end of the loan spell.
Italian agent Augusto Carpeggiani has been given permisson by Inter to sound out interested clubs and he is thought to be speaking to several clubs about signing the pacy attacker.
The news has alerted a host of clubs across Europe with the likes of Fulham and Crystal Palace thought to be admirers of the powerful wide player.
Schelotto, who was born in Argentina, is an Italian international and he made his senior debut against England last August.